FP’s Lawrence Solomon: Democratic jackpot

The energy-short democracies — the United States, most European Union nations, Japan and Israel — are today mostly on the defensive, while energy-rich countries run by strong men — Russia, various Middle Eastern states, and Venezuela — are flexing their muscles.

Within a decade, this energy order could flip. Many of the Western democracies are likely to become major oil and gas producers, helping to glut the world and collapse energy prices. And today’s energy-rich countries, most having undiversified economies, will then lose the lion’s share of their revenues and become neutered politically. Read more